Global textile consumption is estimated to expand at an annual average rate of 4% and reach 87 million tons by 2020. This growth is likely to fuel the demand for textile fibres. Asia Pacific comprises the biggest market for textile materials, closely followed by Europe.

Asia Pacific will continue to be the biggest market for textile fibres for the years to come. Synthetic fibres represent the biggest segment of the total textile fibre market.

China is the world’s largest manufacturer and consumer of textile fibres. The country also leads in the exports of filament yarn, polyester filament yarn, polyester staple fibre, viscose, and viscose staple fibre.

Global prices for all textile fibres are predicted to increase during 2011. Textile fibres are being used increasingly in many household furnishing due to their inherent performance. Synthetic fibre market is estimated to grow in globally, and more particularly in the developing countries.

Specialty products such as spandex, aramid, and carbon fibres will see a fast growth. Polyester fibre will continue to dominate the fibre market, along with which it is expected that Asian market will see a good growth.